Acrylic esters and acrylic polymers would collectively dominate the global acrylic acid market throughout the analysis period. Furthermore, acrylic polymers segment is expected to grow with a CAGR of 6.9% during the forecast period. Butyl acrylate led with more than half of the acrylic esters market, whereas, superabsorbent polymers is the prominent segment with two-third of the acrylic polymers market in 2015.

Portland, OR -- (SBWire) -- 11/17/2017 --Acrylic Acid Market is expected to garner $19.5 billion by 2022, registering a CAGR of 6.6% during the forecast period 2016?2022. Acrylic acid is an organic compound with tart or acrid smell characteristic. It is mainly used as a feedstock in the production of acrylate esters. Acrylate esters have a broad spectrum of application in plastic additives, textiles, sealants, adhesives, and surface coatings.

Industries develop and implement commercialized processes for producing acrylic acid from petrochemicals. Manufacturers are using bio-based techniques to produce acrylic acid from renewable sources, such as glycerol and sugar, because of stringent regulations. Renewable feedstock shows cost competitive outcomes as compared to petrochemical routes. The soaring demand for superabsorbent polymers and widespread adoption of acrylic-based products in emerging economies of regions, such as Asia-Pacific are the factors that drive the acrylic acid market size. Stringent government regulations are imposed on the use of acrylic acid because of environmental concerns in regions, such as North America and Europe, which acts as a major restraint for the growth of this market. Commercialization of bio-based acrylic acid and saturated demand for poly (methyl methacrylate) or PMMA resins in various industries is likely to present varied opportunities for the growth of this market. Hence, the producers of acrylic acid focus on R&D to find bio-based sources for the production of acrylic acid.

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The acrylic acid market by derivative type is segmented into acrylic esters, acrylic polymers, and other derivatives. Acrylic polymers were the major type in 2015, and may continue to lead the market till 2022. These are widely used for coatings, binders, gun turrets, bomber noses, aircraft canopies, and in cosmetic industry among others. Acrylic polymers are popular for their stability, superior technology, and chemical purity because of which they are used in applications where there is a need for resistance to aging & weathering, transparency, and color stability.

Key Findings of Acrylic Acid Market

Ethylhexyl acrylate is anticipated to be the fastest growing segment in the global acrylic esters market, with a CAGR of 6.5%.
Acrylic polymers segment contributed to about 38% of the market share, by volume, in the overall acrylic acid market in 2015.
The Asia-Pacific region is expected to occupy the highest market share in the global acrylic acid market, growing at a CAGR of 6.9% during the forecast period.
LAMEA is the fastest growing region in the global acrylic acid market, with a CAGR of 7.2% from 2016 to 2022.
The Asia-Pacific and LAMEA acrylic acid markets are likely to offer lucrative growth opportunities during the analysis period owing to growth in the emerging economies and increased infrastructure demands. The demand for acrylic acid is expected to surge because of its application in construction, medical treatments, and adhesives.

Key companies profiled in the report include, The Dow Chemical Company, BASF SE, Arkema SA, Lubrizol Corporation, LG Chem Ltd., Evonik Industries Ag, SIBUR, Myriant Corporation, SunVic Chemical Holdings Limited, and Hexion Inc.